Financing for Full-Service Restaurants
Looking for loans for full-service restaurants? Try the SBA. This $385,000 full-service restaurants loan was issued by a New Jersey bank.
This small firm knew how to go about getting a business bank loan. Based in Netcong, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Valley National Bank, based in North Plainfield, New Jersey.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
NETCONG, NJ 07821
SBA Loan Lender
VALLEY NATIONAL BANK
1334 RTE 22 EAST
NORTH PLAINFIELD, NJ 07060
This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722110 - Full-Service Restaurants
Loan Approval Date
12/27/2002
Loan Approval Gross Amount
$385,000
Loan Approval from the SBA
Of the total $385,000 loan amount, the SBA guaranteed $288,750.
More Information on This SBA Loan
The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 2 employees. This SBA loan request indicated that the loan would help generate 8 new jobs and retain 2 existing jobs.
Next Steps for Getting an SBA Loan
Every year, the SBA guarantees over $10 billion for loans just like this one.
Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.
About This SBA Loan Information:
All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.
Related Links:
Alternative Financing
Where to Get an SBA Loan in North Plainfield, New Jersey
New Jersey SBA 7A Lenders